MIND - Another nice order announced:
MIND Technology Receives Source Controller Order
PR Newswire - Dec 19 07:00 EDT
THE WOODLANDS, Texas, Dec. 19, 2023 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or the "Company") (Nasdaq: MIND) announced today that its Seamap unit has received an order for multiple GunLink source controllers totaling approximately $10.2 million. This order is pursuant to the previously disclosed framework supply agreement with a major international seismic contractor.
Mark Welker, Vice President of MIND and Seamap Managing Director, stated, "This is, the largest single order in Seamap's history and is another indication of the broad acceptance of our technology. When combined with our existing backlog, Semap now has a committed book of business totaling almost $48 million as we move into the fourth quarter of this fiscal year and into next fiscal year. We believe this will allow us to be more efficient in our procurement and production operations."
About MIND Technology
MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit, designs, manufactures, and sells specialized, high performance, marine exploration and survey equipment.
I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.
